class GSTCalculator: def __init__(self, invoice_value, gst_rate, itc=0): self.invoice_value = invoice_value self.gst_rate = gst_rate self.itc = itc def calculate_gst_tax(self): gst_tax = (self.invoice_value * self.gst_rate) / 100 return gst_tax def calculate_net_amount(self): gst_tax = self.calculate_gst_tax() net_amount = self.invoice_value + gst_tax - self.itc return net_amount def print_invoice_details(self): gst_tax = self.calculate_gst_tax() net_amount = self.calculate_net_amount() print("Invoice Value: ", self.invoice_value) print("GST Rate: ", self.gst_rate, "%") print("Input Tax Credit (ITC): ", self.itc) print("GST Tax Amount: ", gst_tax) print("Net Amount Payable: ", net_amount) def main(): invoice_value = float(input("Enter the invoice value: ")) gst_rate = float(input("Enter the GST rate (in %): ")) itc = float(input("Enter the input tax credit (ITC): ")) calculator = GSTCalculator(invoice_value, gst_rate, itc) calculator.print_invoice_details() if __name__ == "__main__": main()
Starting a new enterprise involves navigating the complex landscape of tax regulations, including GST compliance and income tax obligations. Here's a simplified guide to the current GST and Income Tax rules relevant to entrepreneurs in India: GST , INCOME TAX & TAXATION LATEST UPDATES
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